With couples of similar ages, planning for the future is naturally a joint effort. However, if your marriage has a sizeable age gap, meaning you are married to someone who is significantly older or younger than you, the future can look different and mean different things to each of you. To protect yourself, your spouse, […]
It is better to give than to receive. But if you give a gift above a certain amount, you might end up owing money to the Internal Revenue Service (IRS). The federal tax code has very specific rules about how much you are allowed to transfer to others each year—and over the course of your lifetime—in […]
If you’re reading this, you’re one of the millions of Americans who need an estate plan. Why? The short answer is “Everyone, age 18 and older needs an estate plan.” It doesn’t matter if you are old or young, Bezos-rich or just starting adulthood, the fact is, you need a written plan to keep you in […]
A popular estate planning tool that has long been used effectively may be facing new challenges under the ever shifting currents of tax law and politics. The family limited partnership (FLP) is an estate planning tool that allows families not only to transfer significant amounts of their wealth to succeeding generations while reducing estate, gift, […]
